v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows Used in Operating Activities    
Net loss $ (33,730) $ (17,312)
Adjustment to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 68 47
Amortization of intangible assets 152 235
Amortization of right-of-use asset 76 92
Non-cash interest expense, net of interest income 145 173
Stock-based compensation 1,177 5,733
Impairment of goodwill 4,049
Impairment of intangible assets 631
Change in fair value of convertible notes payable (12,882)
Loss on extinguishment of debt 421 6,732
Warrant issuance expense 5,795
Change in fair value of warrant liability 5,431 281
Other (291) (13)
Changes in operating assets and liabilities:    
Accounts receivable and other receivables 401 309
Inventories (4) 132
Prepaid expenses and other current assets (264) 162
Other assets 362 8
Accounts payable (1,814) 1,981
Related party payables (51)
Accrued expenses and other current liabilities (4,905) 6,494
Accrued interest 67 86
Deferred revenue 376 (354)
Operating lease obligation (75) (94)
Net Cash Used in Operating Activities (21,983) (8,190)
Cash Flows (Used in) Provided by Investing Activities    
Purchase of property and equipment (103) (18)
Cash received in purchase of Inpixon 2,968
Purchase of intangible asset (39)
Net Cash (Used in) Provided by Investing Activities (103) 2,911
Cash Provided by Financing Activities    
Net proceeds from sale of common stock and pre-funded warrants via public offerings 36,396
Net proceeds from ATM stock offering 1,667 8,547
Net proceeds from the exercise of equity classified warrants 2
Net proceeds from the exercise of liability classified warrants 3,771
Net proceeds from promissory notes 2,000
Net proceeds from loan from Inpixon (prior to merger) 1,012
Redemption of Series 9 preferred stock (1,427)
Repayments of promissory notes (2,719) (502)
Net Cash Provided by Financing Activities 37,688 11,059
Effect of Foreign Exchange Rate on Changes on Cash 339 (6)
Net Increase in Cash and Cash Equivalents 15,941 5,774
Cash and Cash Equivalents - Beginning of period 4,105 5
Cash and Cash Equivalents - End of period 20,046 5,779
Supplemental Disclosure of cash flow information:    
Interest 282 32
Income Taxes 9 4
Non-cash investing and financing activities    
Common shares issued for conversion of debt and accrued interest 750 9,614
Common shares issued in exchange of warrants 1,698
Deemed dividend related to December 2023 warrant exchange 283
Common shares issued as settlement of accrued compensation 1,192
Common shares issued as prepayment for services 335
Common shares issued in exchange of series 9 preferred stock 3,550
Issuance of common shares for merger consideration, net of cash received 22,637
Right-of-use asset obtained in exchange for lease liability 394
Capital contribution - forgiveness of related party payable 380
Deemed dividend related to series 9 preferred stock exchange 177
ATM proceeds withheld as payment towards accounts payable 128
Series 9 preferred stock dividend accrued $ 311

Source

10-Q PDF
XBRL